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No power cuts for BOI zones – Minister Pavithra

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Business

Minister of Power Pavithra Wanniarachchi stressed that the daily power cuts which are being implemented at present will not be done in future for factories belonging to the Investment Promotion Board which are places of immense importance to the economy.

The Minister made this comment last evening during a discussion held at the premises of the Ministry of Power, with State Secretary Janaka Chandragupta, Chairman of the Investment Promotion Board Rajah Edirisuriya, Director General Renuka Weerakone and a group of Investment Promotion Board officials.

At present there are about 14 trade zones in Sri Lanka under the Board of Investment Promotion and as a result of the daily power cuts, work at many of these factories have come to a standstill and there are signs that the number of arrivals of investors will drop, the officials of the Investment Promotion Board who met the Minister of Power, told her. They also stressed that if investors stop coming to Sri Lanka and investing in the country, the country could lose about US $ 800,000 billion worth of export earnings annually. They further explained to Minister Pavithra Wanniarachchi that if power cuts occur on a daily basis, there is a risk that around 500,000 local workers will lose their direct jobs due to the closure of factories in the Investment Promotion Zone.

After considering all these factors Minister of Power Pavithra Wanniarachchi instructed the Ceylon Electricity Board (CEB) not to extend the current power cuts due to the prevailing dry weather conditions and fuel shortages to factories located in BOI trade zones.

Wednesday, March 16, 2022 – 01:00











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